BAKU, Azerbaijan — Soaring rhetoric, urgent pleas and pledges of cooperation contrasted with a backdrop of seismic political changes, global wars and economic hardships as United Nations annual climate talks began Monday and got right to the hard part: money. In Baku, Azerbaijan, where the world’s first oil well was drilled and the smell of the fuel was noticeable outdoors, the two-week session, called COP29, got right to the major focus of striking a new deal on how many hundreds of billions — or even trillions — of dollars a year will flow from rich nations to poor to try to curb and adapt to climate change. [time-brightcove not-tgx=”true”] The money is to help the developing world transition their energy systems away from planet-warming fossil fuels and toward clean energy, compensate for climate disasters mostly triggered by carbon pollution from rich nations and adapt to future extreme weather. “These numbers may sound big but they are nothing compared to the cost of inaction,” the new COP29 president, Mukhtar Babayev, said as he took over.
Cop29 Opens In Azerbaijan With Climate Finance At Top Of Agenda
Seth Borenstein, Melina Walling, and Sibi Arasu / AP, Time
Mon, 11/11/2024 - 4:53am
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